Best Crypto Exchanges for Beginners 2025

MEXC comes in second with zero fees on limit orders, and Margex earns third place with futures trades that start at just $5.

We deposited real money, executed thousands of trades, and stress-tested every major feature in over 100 exchanges to find the best crypto exchanges for beginners in 2025, ranking the top 10 providers by core metrics. Discover which Bitcoin and altcoin exchanges offer the best service and learn how to get started in under five minutes.

Key Takeaways for Top Crypto Exchanges

• Best Wallet is our top recommended crypto exchange for beginners. It’s a non-custodial wallet and exchange in one app that supports over 1,000 crypto and does not require KYC.
• No single exchange is perfect and different platforms excel in different dimensions (low fees, regulatory compliance, advanced tools, etc.).
• Many exchanges embed fees in spreads or via commissions. Fiat deposit/withdrawal fees can be especially expensive (averaging 3–5%), so users should check those carefully.
• Exchanges offering high leverage or derivatives come with elevated risk and are suitable only for experienced users.
• Some features are region-restricted. US clients in particular, may face limitations or need to use specialized regulated versions of exchanges.

The 10 Best Crypto Exchanges for Beginners in 2025

According to our extensive research, these are the best crypto exchanges for 2025:

1. Best Overall – Best Wallet
2. Best for Altcoin Access – MEXC
3. Best for Futures and High Leverage – Margex
4. Best Regulated US Exchange – Binance
5. Best for Meme Coin Traders – CoinEx
6. Best for Localized Payment Methods – Bybit
7. Best for Security and Self-Custody – OKX
8. Best for Small Account Minimums – BloFin
9. Best for Spot Trading – KCEX
10. Best for P2P Trading – BingX

Best Bitcoin Exchanges Reviewed

Read on to explore the top 10 crypto exchanges in more detail. Learn which exchanges offer the lowest fees, the widest range of markets, and the overall best user experience.

1. Best Wallet – Best Overall

Best Wallet offers a mobile app where users can buy Bitcoin and over 1,000 other cryptocurrencies with debit/credit cards, e-wallets, and local bank transfers. The exchange doesn’t have know-your-customer (KYC) requirements, so you can invest in digital assets instantly without needing to upload documents.

Users can swap cryptocurrencies within the mobile app – this provides access to millions of markets from popular ecosystems like Ethereum, Solana, and Base. Platform fees are built into quoted exchange rates, which Best Wallet sources from over 100 liquidity partners.

Best Wallet app doubles as a self-custody wallet. This feature ensures cryptocurrencies are stored safely and that users transact without needing approval from third parties. The wallet and exchange offer multiple security tools, including custom PINs, biometrics, and two-factor authentication (2FA).

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2. MEXC – Best for Altcoin Access

MEXC is a good choice for crypto investors who prioritize altcoins, including Ethereum, Dogecoin, Avalanche, and Solana. You can buy cryptocurrencies instantly with local currencies and payment methods, including Visa, MasterCard, and Google/Apple Pay. Another option is MEXC’s peer-to-peer (P2P) exchange, which supports over 100 deposit types and allows buyers to trade directly with sellers from their home country.

The exchange also provides leverage of up to 500x, offers competitive interest rates on crypto deposits, and a native app for iOS and Android. Spot trading users get 0% commissions when they place limit orders, and 0.05% for market orders. The platform also supports perpetual futures, with commissions set at 0.01% and 0.04% for limit and market orders, respectively.

Markets cover the best altcoins to buy, including Ethereum, Dogecoin, Avalanche, and Solana. The exchange also provides leverage of up to 500x, offers competitive interest rates on crypto deposits, and a native app for iOS and Android.

3. Margex – Best for Futures and High Leverage

Margex is a derivatives exchange that offers perpetual futures on 55 markets, including the penny cryptocurrencies like Dogecoin and Shiba Inu.

The exchange has a small margin requirement of just 1% on large-cap markets, so a $100 account balance is amplified to $10,000 in trading capital.

Futures trading fees are 0.019% and 0.06% for market makers and takers, respectively, and funding charges apply to leveraged positions every eight hours.

Margex also lets users buy Bitcoin and other popular cryptocurrencies with fiat money. The platform supports 152 payment methods, and the minimum deposit is just $5. They can also access copy trading features, staking rewards, and educational guides on how to analyze and trade crypto.

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4. Binance – Best Regulated US Exchange

Binance is the most popular exchange in the market with over 275 million registered traders. It counts the US as a major market via Binance.us and supports 500 cryptocurrencies and 2,000 markets, which cover spot trading, perpetual and delivery futures, options, and leveraged tokens.

The exchange is commonly used by active day traders who seek tight spreads, deep liquidity, and access to high-level trading tools. Analysis features include technical indicators, drawing tools, and custom charting areas.

Binance is highly accessible, with desktop software for Mac, Windows, and Linux, as well as a mobile app for iOS and Android. It also offers standard browser-based trading, and all platform options connect to the same Binance account.

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5. CoinEx – Best for Meme Coin Traders

Launched in 2017, CoinEx supports over 1,300 cryptocurrencies, including some of the best meme coins like Pepe, OFFICIAL Trump, and Fartcoin.

Its copy trading feature lets investors mirror experienced pros, with buy and sell orders replicated in real-time. There are over 200 copy traders to choose from, and each specializes in perpetual futures. The copy trading tool has a profit-sharing fee that ranges from 10% to 50%.

CoinEx offers auto-invest tools that let users build custom investment strategies, such as dollar-cost averaging or buying the market dip. Users can also deploy spot grid bots, which capitalize on market fluctuations and consolidation periods.

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6. Bybit – Best for Localized Payment Methods

Bybit is now the second-largest crypto exchange for daily trading volume. It supports fiat payments across over 60 currencies, and deposit types include Visa, MasterCard, local transfers, SEPA, and Google/Apple Pay. The P2P exchange has over 600 additional payment choices, and fees are often below the global spot price.

The platform offers a huge range of products, including over 1,900 listed cryptocurrencies, and derivative instruments include options, pre-market trading, and delivery futures with 200x leverage.

Investors have a wide range of earning tools at their disposal, from fixed and flexible savings accounts to dual investments and liquidity mining. These products allow users to earn competitive APYs on their crypto balances.

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7. OKX – Best for Security and Self-Custody

The tier-one exchange OKX has recently expanded into the U.S. market, giving American users a secure and regulated way to invest in cryptocurrencies. The platform supports hundreds of leading assets, including Bitcoin, Ethereum, Cardano, Arbitrum, and Dogecoin, and makes purchasing digital assets simple through instant, fee-free ACH transfers. Users can also fund accounts using Visa and MasterCard debit or credit cards, or through P2P services that provide an even broader range of local payment options.

Security is a central focus for OKX. The exchange maintains robust regulatory compliance, uses cold storage for most user funds, and offers self-custody through the OKX Wallet, allowing users to manage their own private keys and interact directly with Web3 dApps if they choose.

Trading fees are competitive, with makers paying 0.08% and takers 0.1% per trade, alongside volume-based discounts for active traders. Users outside the U.S. also gain access to advanced features such as copy trading, automated trading bots, and up to 100x leverage.

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8. BloFin – Best for Small Account Minimums

BloFin was designed with beginners in mind. The retail-friendly platform offers a free demo trading account with unlimited virtual funds and real-time market movements. Novice traders learn how to read pricing charts, use technical indicators, and place orders without risking their own funds.

The exchange also has a comprehensive education section that includes a free trading academy. Once newbies get comfortable with the BloFin platform, they can deposit real money with a debit/credit card – the minimum requirement is just $15.

It supports over 470 coins, and investing categories include meme coins, DeFi, RWA, infrastructure, and GameFi.

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9. KCEX – Best for Spot Trading

KCEX is popular with crypto investors who have a high appetite for risk. The exchange supports over 350 speculative meme coins from a range of narratives, including market leaders like Dogecoin, dogwifhat, Pepe, and Bonk. It also has a dedicated section for celebrity meme coins, including those linked to Donald Trump, Melania Trump, and Dave Portnoy.

You can also trade more serious blockchain projects like Cardano, Bitcoin, Sui, Tron, and BNB, as well as top artificial intelligence (AI) coins like Render and Virtuals Protocol.

KCEX also stands out in the fee department, with no commissions charged on spot trades or futures limit orders. Traders only pay fees when placing market orders on perpetual futures, and even then, it’s only 0.01% per slide.

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10. BingX – Best for P2P Trading

BingX offers a P2P exchange that supports over 300 payment methods, including local transfers and e-wallets. P2P traders can buy USDT in over 65 fiat currencies, and many sellers have small minimum requirements of just $5.

The exchange ensures safety through a P2P escrow system, to which sellers transfer funds before the buyer makes payment.

Account holders can also use the instant buy feature to purchase cryptocurrencies with Visa or MasterCard. Instant and fee-free bank transfers are available in select regions, including Europe and Australia.

After depositing funds, traders can access over 1,000 trading markets at commissions of just 0.1% per slide.

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Compare the Best Crypto Exchanges

What Is a Cryptocurrency Exchange?

A cryptocurrency exchange is an online platform where users can buy, sell, and trade digital assets such as Bitcoin, Ethereum, and stablecoins. These exchanges match buyers and sellers while displaying real-time prices. The two main types of exchanges are Centralized Exchanges (CEXs) and Decentralized Exchanges (DEXs).

CEXs act as intermediaries, managing transactions and custody of user funds. They typically offer strong liquidity, advanced tools, and customer support, but users must trust the platform with their assets and may sometimes have to complete Know Your Customer (KYC) verification. The exchanges listed in this article are all CEXs.

DEXs operate on blockchain networks without intermediaries. Users trade directly from their wallets, keeping full control of their private keys. While DEXs enhance privacy and self-custody, they can have lower liquidity and fewer fiat payment options. Examples of DEXs include Uniswap or PancakeSwap.

How Do Crypto Exchanges Work?

Crypto exchanges connect buyers and sellers through order books or automated market makers. On centralized platforms, users place market orders (buy/sell instantly at the best available price) or limit orders (set a specific target price). These exchanges often require KYC verification, where users provide identity documents to meet regulatory standards and unlock higher trading limits.

In contrast, non-custodial platforms like Best Wallet or DEXs let users trade directly from their self-custody wallets, often without KYC. Transactions occur through smart contracts, with blockchain transparency ensuring trades are verifiable and irreversible. Some exchanges also support peer-to-peer (P2P) trading, allowing users to buy crypto directly from others using local payment methods.

How Centralized Crypto Exchanges Work – a Five-Step Guide

1. Sign Up: Create an account. You may need to complete identity verification (upload ID, proof of address) to unlock trading and withdrawal limits.
2. Deposit Funds: Add fiat (USD, EUR, etc.) via bank transfer, card, or P2P, or deposit crypto from another wallet.
3. Trade: Buy, sell, or swap cryptocurrencies using market or limit orders on the platform.
4. Secure Your Account: Enable security features like 2FA, withdrawal whitelist, and strong passwords.
5. Withdraw Funds: Transfer crypto to a personal wallet or fiat back to a bank account whenever desired.

Are Crypto Exchanges Safe to Use?

Crypto exchanges are generally safe when using reputable platforms, practicing good security hygiene, and understanding where responsibility lies: with the platform on CEXs and with the user on DEXs.

Leading CEXs like Binance, OKX, or Coinbase implement multi-layered security, including cold storage, two-factor authentication (2FA), encryption, and proof-of-reserves audits to verify user balances. However, because centralized exchanges hold custody of funds, they remain vulnerable to hacks or operational risks, and users are often advised to withdraw long-term holdings to self-custody wallets.

DEXs, by contrast, eliminate custodial risk since users keep control of their keys. Yet, they introduce smart contract vulnerabilities and lack formal customer support.

Regulated mainstream crypto exchanges are largely safe, but the platform’s structure, reputation, and user practices have to be taken into account.

How to Choose a Safe and Trusted Crypto Exchange

Follow these best practices to ensure you’re using a legitimate Bitcoin exchange:

1. Assess Trading Volumes and Users: The best crypto exchanges attract significant volumes, with OKX, Binance, and MEXC users trading billions of dollars every day. These platforms have millions of active traders and an overall solid reputation.
2. Evaluate Account Security Features: Legitimate platforms offer a wealth of account security tools, from 2FA and device whitelisting to withdrawal time locks.
3. Cold Storage: Exchanges should keep the vast majority (95%+) of client-owned cryptocurrencies in cold storage wallets. This security system mitigates the risks of remote hacks.
4. Check Proof of Reserves: Since the FTX bankruptcy, proof of reserves has become the industry norm. Ensure reserves have been audited by reputable companies and that they’re held in liquid assets like Bitcoin and USDT.

How Do Crypto Exchange Fees Work?

Cryptocurrency exchange fees are structured to facilitate trading while generating revenue for the platform. These fees vary based on the exchange’s fee model, trading volume, and payment methods used.

Maker-Taker Fee Model

Many exchanges employ a maker-taker fee structure to incentivize liquidity provision and active trading. In this model:

• Maker Fees: Charged to users who place limit orders that add liquidity to the order book. These orders are not immediately matched and remain on the book until a taker matches them.
• Taker Fees: Charged to users who place market orders that match existing orders on the order book, removing liquidity.

Typically, maker fees are lower than taker fees to encourage liquidity provision.

Tiered Fee Structures

Exchanges often implement tiered fee structures based on a user’s 30-day trading volume. Higher trading volumes can lead to reduced fees.

Additional Fees

Beyond trading fees, exchanges may charge:

• Deposit Fees: Fees for transferring funds into the exchange.
• Withdrawal Fees: Fees for transferring funds out of the exchange.
• Conversion Fees: Fees for converting between different cryptocurrencies or from fiat to crypto.

Choice of Payment Methods

The payment method you use can influence fees. Using credit or debit cards may incur higher fees due to the risk of chargebacks, while bank transfers typically have lower fees.

Fee Discounts and Promotions

Some exchanges offer fee discounts or promotions to attract users. For instance, Binance offers a 25% discount on trading fees when using its native BNB token.

How to Use a Cryptocurrency Exchange in 2025

This section explains how to buy cryptocurrencies on the Best Wallet app – our overall top pick for beginners.

• Step 1: Download the iOS or Android App: Go to the Best Wallet website and download its mobile app.
• Step 2: Secure the App: Activate all security features before you buy digital assets, including biometrics and 2FA. Write down the 12-word backup passphrase in case you lose your smartphone.
• Step 3: Choose a Crypto to Buy: Best Wallet supports the best cryptocurrencies to buy, with over 1,000 markets available. Tap “Trade” and “Buy” to explore the app’s supported assets.
• Step 4: Enter the Purchase Requirements: After choosing a coin, select the currency and payment method, and type in the purchase amount.
• Step 5: Complete Payment: The app redirects you to the final confirmation screen – check everything is correct, enter the payment details, and confirm the order. The purchased coins will appear in your wallet balance almost instantly.
• Step 6: Store Crypto: Best Wallet is also a self-custody wallet, so you can store your cryptocurrencies safely until you decide to cash out.

Conclusion

After extensive research, we rank Best Wallet as the top cryptocurrency exchange app for 2025. It combines the convenience of an exchange with the security of a self-custody wallet, giving users full control over their assets while still making it easy to buy, sell, and store crypto in one place.

The app, available on both iOS and Android, offers a clean and intuitive interface while supporting 1,000+ coins, including major assets like Bitcoin and Ethereum as well as emerging tokens. Users can invest in cryptocurrencies in under two minutes without needing to provide personal information or ID documents.

Looking ahead, Best Wallet is also well-positioned for the next wave of Web3 adoption. Its built-in self-custody approach lays the foundation for seamless access to decentralized finance (DeFi), NFTs, and other emerging blockchain applications. This future-ready design makes Best Wallet not only the best choice for 2025, but also a strong gateway into the evolving digital asset ecosystem.

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Tony Frank

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Tony Frank is an accomplished cryptocurrency analyst, author, and educator whose work bridges the gap between complex blockchain technology and accessible, actionable insights for global audiences. Over the past decade, he has emerged as a respected voice in the rapidly evolving world of digital assets, combining technical expertise with a talent for storytelling to help readers navigate everything from Bitcoin’s monetary philosophy to the intricacies of decentralized finance (DeFi). Tony earned his Bachelor’s degree in Economics and Finance from the University of Melbourne, where he developed a deep interest in monetary systems and market structures. He later pursued a Master’s degree in Blockchain and Digital Currency from the University of Nicosia, one of the first academic institutions to offer accredited programs in cryptocurrency studies. Before focusing full-time on blockchain, Tony worked as a financial analyst for a multinational investment firm, covering emerging technologies and alternative asset classes. His early exposure to macroeconomic policy, global market behavior, and fintech innovation laid the foundation for his later work in crypto research and writing. Tony’s expertise spans multiple sectors of the blockchain industry, including cryptocurrency fundamentals, altcoin market cycles, DeFi and web3 trends and regulatory landscapes. Tony combines on-chain data analysis with macroeconomic research, providing readers with both the technical “how” and the market “why” of cryptocurrency movements.